Cray Chief Haydock Resigns

Updated March 5, 2002 11:52 p.m. ET

Michael P. Haydock resigned as president and chief executive of Cray Inc. due to differences with the board of directors on how to restore the company to "long-term industry leadership," the company said. The Seattle computer-systems maker said the resignation is effective immediately, and that former President and Chief Executive James E. Rottsolk has reassumed those positions while the company continues to search for additional senior operating management. Despite Mr. Haydock's departure, Cray plans to maintain its strategy, guidance and focus on profitability. In mid-February, the company projected...